Soybean market remains uncertain, consultancy points out

Profitability is close to 12% in Rio Grande do Sul, Santa Catarina, Mato Grosso do Sul, and Goiás, 8.29% in Paraná, Bahia, and Mato Grosso, and 3.78% in Minas Gerais. Although limited, the margin is still considered relevant, especially because the result is approaching the cost of production. The consultancy highlights that producers who locked in future prices in October 2024 managed to achieve more than 44% profit, reinforcing the importance of the fixing mechanism in the physical market. Among the factors supporting prices are the increase of almost 1 dollar per bushel since mid-October, the new sales confirmed for China, the update of shipments by the USDA within market projections, and the adjustment by the International Grains Council, which reduced the global production estimate and increased the consumption estimate. In Brazil, the firm demand for meal, oil, and exports maintains gradual advances in ports ...